Dominik Schiener: Co-Founder of IOTA

Early Life and Background

Dominik Schiener, born in South Tyrol, Italy, is a prominent figure in the cryptocurrency world, most known for his role as the co-founder of IOTA. From an early age, Schiener showcased an interest in technology, which ultimately steered him toward building an impactful career in the blockchain and cryptocurrency space. Schiener had an entrepreneurial spirit that led him to drop out of high school at age 17 to pursue several ventures, including start-ups within the tech realm. His efforts in earlier entrepreneurship—although not always successful—prepared him for future achievements, particularly in the evolving blockchain industry.

The Creation of IOTA

Dominik Schiener is one of the co-founders of IOTA, a cryptocurrency project established in 2017. IOTA emerged to address the challenges of scalability, decentralization, and transaction fees that many blockchain projects face. Schiener, alongside his co-founders, envisioned a distributed ledger technology (DLT) that would help enable the emerging Internet of Things (IoT) ecosystem. IOTA focuses on creating a machine-to-machine economic environment, where data and value can be exchanged seamlessly without the need for intermediaries or high fees. The innovative architecture of IOTA, known as the Tangle, breaks away from traditional blockchain models and eliminates the concept of miners, enabling transactions to be feeless and scalable. Schiener’s vision centered on creating better efficiency for connected devices, data integrity, and governance aspects. The foundational idea behind IOTA is to allow various devices and machines in an interconnected world to communicate and transact autonomously.

Leadership Role within the IOTA Foundation

Dominik also serves as the Chairman of the IOTA Foundation, an organization responsible for the advancement and governance of the IOTA project. The Foundation plays a critical role in overseeing the project’s research, development, and partnerships. Schiener’s leadership is integral to steering IOTA’s long-term goals, particularly in terms of driving adoption across sectors like mobility, smart cities, and supply chains. Under his leadership, IOTA has formed collaborations with entities across both private and public sectors, including major corporations and governmental bodies working on digital innovation. Schiener is known for actively engaging with the community and supporting a transparent development process for the project. Through educational efforts and outreach, Schiener continues to strengthen IOTA's mission of enabling the Machine Economy, through initiatives aimed at decentralization, interoperability, and industrial use cases.